LPL Financial (NASDAQ:LPLA) Director Matthew Enyedi Sells 2,109 Shares

LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Matthew Enyedi sold 2,109 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $320.15, for a total transaction of $675,196.35. Following the completion of the transaction, the director owned 14,121 shares of the company’s stock, valued at $4,520,838.15. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

LPL Financial Stock Down 6.0%

LPLA traded down $19.17 during trading on Friday, hitting $300.38. The stock had a trading volume of 1,318,570 shares, compared to its average volume of 989,212. LPL Financial Holdings Inc. has a twelve month low of $262.83 and a twelve month high of $403.58. The stock has a 50 day simple moving average of $358.84 and a two-hundred day simple moving average of $353.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.60 and a current ratio of 2.45. The company has a market capitalization of $24.05 billion, a PE ratio of 27.28, a PEG ratio of 0.70 and a beta of 0.58.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.41. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.90 billion. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.25 EPS. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s payout ratio is presently 10.90%.

Analysts Set New Price Targets

A number of analysts have commented on LPLA shares. Wolfe Research set a $478.00 price target on LPL Financial in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a research report on Wednesday, January 28th. TD Cowen reduced their price target on shares of LPL Financial from $399.00 to $378.00 and set a “hold” rating for the company in a research report on Friday, January 30th. UBS Group set a $500.00 price objective on shares of LPL Financial in a research note on Tuesday, February 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $421.00 target price on shares of LPL Financial in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $428.71.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors have recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new position in LPL Financial during the second quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in shares of LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 66 shares during the period. SBI Securities Co. Ltd. increased its holdings in LPL Financial by 116.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Finally, Chung Wu Investment Group LLC acquired a new position in LPL Financial during the third quarter worth $27,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.